U.S. Stock Markets finish Mixed; Watch for Short-Covering Rally

U.S.
equity markets were under pressure at the mid-session but mounted a strong
short-covering rally into the close. The turnaround to the upside in the Euro
was the catalyst behind the rally. The June E-mini NASDAQ managed to close
higher with the Dow and S&P 500 trailing closely.

Investors are concerned that the weakness in the Euro Zone
will have a negative effect on future corporate profits. Early in the session
on Monday, the June E-mini S&P 500 tested a key 50% level at 1115.50.
Although downside momentum took the market through this price level, the
mid-session recovery at this price helped trigger a short-covering rally into
the close.

The turnaround in the equity markets helped pressure June
Treasury Bonds. Overbought conditions and oversupply could be the main reason
for the weakness. Retracement zone resistance is at 122â€™05 to 122â€™22. This area
stopped the rally today. The daily chart indicates that a move to 119â€™12 is
possible over the near-term.

June Gold traded flat to lower despite the stronger Dollar.
Last Fridayâ€™s closing price reversal top helped to limit upside action. The
chart pattern suggests that once this reversal top is confirmed, the market
could correct back to $1203.00 to $1192.00.

The weak Euro and the prospects of lower demand for crude
oil helped drive June Crude Oil under the February bottom at 70.75. The close
under this level is likely to keep the downside pressure on this market. Regaining
70.75 could trigger the start of a short-covering rally.

Oversold conditions and the lack of fresh bearish news
helped the June Euro turn around and close higher for the day. Fundamentally,
nothing happened to change the minds of traders. Investors are still concerned
that the European Union is not doing enough to fix the financial problems in
the Euro Zone. The lack of confidence in the European Union continues to remain
the major reason behind the selling. Investors want clarity not just ideas from
the EU. This would include the implementation of new austerity measures by the
five countries at the center of the financial problems: Portugal, Italy,
Ireland, Greece and Spain.

Technically, the Euro made a daily closing price reversal
bottom at 1.2233. A confirmation of this formation on Tuesday could trigger the
start of a rally to 1.2787 to 1.2918. A rally into this zone will not be a
change in trend, but is likely to attract fresh selling pressure.

The June Swiss Franc posted a daily closing price reversal bottom.
This type of formation sets up a possible correction back to .8952 to .9002.
The direction of the Euro will dictate the movement in the Dollar/Swiss.

The recent divestment out of the Euro is putting strong
appreciation pressure on the Swiss Franc. The Swiss National Bank fears that
continuous selling pressure will hurt price stability and put the Swiss economy
at risk. The main concern is damage to the export market will stall the
economy. SNB President promised to act in a decisive manner which could mean another
round of interventions.

The June British Pound was under pressure throughout the
day, but still managed to close off its low. Bearish talk was circulating that
the previous government pushed through spending measures which will make the
new governmentâ€™s attempts to cut the U.K. deficit and balance the budget
more difficult. Pressure is likely to remain on the British Pound as the new
government is likely to propose severe budget cuts and tax increases which
could put a strain on the economy.

Like the Euro and Swiss Franc, conditions are oversold which
could mean the start of a 2 to 3 day short-covering rally. Unless there is
fresh news regarding the economy, traders should be careful about shorting the
Pound at current levels.

A late session turnaround in the U.S. equity markets helped push the
June Japanese Yen higher. Earlier in the session, the Dollar/Yen was under
pressure because of risk concerns. Once the Euro and stock markets bottomed,
traders started to pare their positions in the lower yielding Japanese Yen.

The June Canadian Dollar fell Monday morning but ran into support
at a 50% price level at .9592. The minor reversal to the upside indicates that
a 2 to 3 day rally is likely. The next upside target is .9735 to .9772. A
change in investor sentiment is should help the Canadian Dollar. Traders should
watch crude oil and equity prices for direction. Greater demand for risk means
greater demand for the Canadian Dollar.

Forex Trading News

Forex Research

Daily Forex Market NewsForex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
here.

Forex NewsReal-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."

Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.

Are you
looking for your first broker or do you need of a new one? There are
more critical things to consider than you might have thought.

We were trading long before there were online brokers. Global-View
has been directly involved with the industry since its infancy. We've
seen everything and are up-to-data with recent regulatory changes.

Forex Forum

The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.

Forex News

The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.

Currency Trading

Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by Global-View.com.

Forex Brokers

The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.

Forex Trading

Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.

FX Trading

Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.

Forex Blog

Global-View.com also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at Global-View.com. This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.

WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES
CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN
EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE
PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE
INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC
REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL
SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR
SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.